US hiring slowed further in July, although it showed continued momentum to boost hopes that the Federal Reserve can slow economic growth without creating a downturn.
Non-farm payrolls increased by 187,000 last month, data released on Friday by the Labour Department showed, the lowest job gains since December 2020. Job growth for June was revised down to 185,000.
The unemployment rate was unchanged at 3.5 per cent. A Reuters survey of economists had anticipated an increase of 200,000 jobs and an unemployment rate of 3.6 per cent.
Hourly earnings increased by 0.4 per cent in July, unchanged from June. Over the past 12 months, hourly earnings have increased by an average of 4.4 per cent.
Bank of America became the first bank on Wall Street to revise its end-of-year predictions, now believing that the US will avoid a recession. Instead hopes are turning towards a so-called soft landing, the Fed's ideal scenario in which its high interest rates slow economic growth without creating a downturn.
Consumers also have a more positive outlook on the economy. Consumer confidence hit a two-year high last month based on easing recession fears and the strength of the labour market.
In another sign of evidence of a cooling labour market, the Labour Department reported this week that job openings fell to their lowest level in two years. There remain 1.6 jobs available for every jobseeker, down from 1.9 earlier this year.
Still, wage growth and a near-historic-low unemployment rate shows that the labour market is probably too tight for the Fed's liking.
The jobs market has been a particular challenge in the Fed's attempts to rein in inflation, currently at 3 per cent.
Speaking to reporters after raising interest rates to a 22-year high last month, Fed Chair Jerome Powell said the central bank is not seeking to raise unemployment but that history suggests it is the likely outcome.
COMPANY%20PROFILE
Zimbabwe v UAE, ODI series
All matches at the Harare Sports Club:
1st ODI, Wednesday, April 10
2nd ODI, Friday, April 12
3rd ODI, Sunday, April 14
4th ODI, Tuesday, April 16
UAE squad: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
More on Quran memorisation:
More on Quran memorisation:
Company%C2%A0profile
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
2018 ICC World Twenty20 Asian Western Regional Qualifier
Saturday results
Qatar beat Kuwait by 26 runs
Bahrain beat Maldives by six wickets
UAE beat Saudi Arabia by seven wickets
Monday fixtures
Maldives v Qatar
Saudi Arabia v Kuwait
Bahrain v UAE
* The top three teams progress to the Asia Qualifier
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
INDIA'S%20TOP%20INFLUENCERS
THE CLOWN OF GAZA
Director: Abdulrahman Sabbah
Starring: Alaa Meqdad
Rating: 4/5
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
While you're here
Vivian Balakrishnan: UAE and Singapore can be partners for a world in transition
Sholto Byrnes: Singapore poll results show its politics may be at the crossroads
Chitrabhanu Kadalayil: Election is more than just a family feud over Lee legacy
Sholto Byrnes: Mugabe and Lee: two leaders with very different legacies
RACECARD
England-South Africa Test series
1st Test England win by 211 runs at Lord's, London
2nd Test South Africa win by 340 runs at Trent Bridge, Nottingham
3rd Test July 27-31 at The Oval, London
4th Test August 4-8 at Old Trafford, Manchester
Sonchiriya
Director: Abhishek Chaubey
Producer: RSVP Movies, Azure Entertainment
Cast: Sushant Singh Rajput, Manoj Bajpayee, Ashutosh Rana, Bhumi Pednekar, Ranvir Shorey
Rating: 3/5
On Women's Day
Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action
Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?
Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality
Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'
Killing of Qassem Suleimani
National Editorial: Suleimani has been killed, now we must de-escalate
Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Matthew Levitt: Iran retains its ability to launch terror attacks
Damien McElroy: A CEO tasked with spreading Iran's influence
Hussein Ibish: Trump's order on solid constitutional ground
Simon Waldman: Cautious Israel keeping a low profile
Killing of Qassem Suleimani
National Editorial: Suleimani has been killed, now we must de-escalate
Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Jack Moore: Why the assassination is such a monumental gamble
Matthew Levitt: Iran retains its ability to launch terror attacks
Damien McElroy: A CEO tasked with spreading Iran's influence
Simon Waldman: Cautious Israel keeping a low profile
KILLING OF QASSEM SULEIMANI
National Editorial: Suleimani has been killed, now we must de-escalate
Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Jack Moore: Why the assassination is such a monumental gamble
Matthew Levitt: Iran retains its ability to launch terror attacks
Damien McElroy: A CEO tasked with spreading Iran's influence
Hussein Ibish: Trump's order on solid constitutional ground
Simon Waldman: Cautious Israel keeping a low profile
Palestine and Israel - live updates
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Scream%20VI
Racecard
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
The%20specs
TO%20CATCH%20A%20KILLER
Frankenstein in Baghdad
Ahmed Saadawi
Penguin Press
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Guardians%20of%20the%20Galaxy%20Vol%203
Killing of Qassem Suleimani
National Editorial: Suleimani has been killed, now we must de-escalate
Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Jack Moore: Why the assassination is such a monumental gamble
Damien McElroy: A CEO tasked with spreading Iran's influence
Hussein Ibish: Trump's order on solid constitutional ground
Simon Waldman: Cautious Israel keeping a low profile
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
UAE%20v%20West%20Indies
Rocketman
Director: Dexter Fletcher
Starring: Taron Egerton, Richard Madden, Jamie Bell
Rating: 3 out of 5 stars
Company%C2%A0profile
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
More coverage from the Future Forum
• Remittance charges will be tackled by blockchain
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• Could the UAE drive India's economy?
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